insurance info

[Bitten]

I have a collector car policy that has been in effect for over 13 years, well known and reputable. I had 250k worth of insurance on these 7 cars for 4300 a year.. I sold the most expensive cars in my collection to purchase the new Viper. So I actually reduced my total policy to 186k. I am getting the run around from my insurance company about how my garage is built, our location in regard to the coast, all sorts of stuff. I have to have special permission to get on the policy. We have never made a claim

My whole point is that Allstate has insured the new car for $2200 per year and our coverage offers to replace a totaled vehicle for the first three years. I was paying almost that much for a stated value policy for my 06 Viper.

So to all you New Gen V owners, shop around. I never thought Allstate would be cheaper and after the 3 years is up I can switchover to a stated value policy.

I hope this helps some of you. I got a quote today from Haggerty and the had some weird stuff going on there too. You have to have driving experience to own a Viper (never mind I had 2 gen 3s I tracked and have had numerous driving experiences including Viper Days). Because my husband drives a one ton dodge diesel and I drive a Rubicon we might not be experienced enough to drive a Viper.

[Viper vince]

Have you looked at Grundy?

[randd]

Good morning... forgive going off-topic

Still headed out in the morning to complete transaction. As it happens my architect is a couple of blocks away from dealership. Will be picking up finalized plans either before or after the trade.

My insurance will go up about $125/6 months going from III to V, same full coverage with predicted 8,000 annual mileage.

[Voice of Reason]

We use MetLife Auto because I get a corporate discount through my work. We saved a substantial amount over what we were paying with Allstate, I think it was like a 30% difference. We pay $3100 a year for the 13 Viper, 09 G8 GT, and 07 Santa Fe. The Viper accounts for half of the cost.

[Bill Pemberton]

Alot of companies have gone with special coverage options to compete with the " Collector Car Policies ," and it is worthwhile to check your area to see who might be competitive. Often companies
like State Farm, Farm Bureau, American Family, etc. even offer these policies. Prices can be very different due to claim/losses for your area. Some companies that were quite reasonable in the
Midwest have gone up due to the hail damage losses over the past 5 years. The coasts got hammered for years due to the Hurricane losses and often the companies that are now lower on Premiums
are those that are not regional, but can spread their exposure over the entire Nation. Pays to look around, but also can be surprising if you have all your vehicles/home, etc. with one company - you might
find they do specialty policies now, when they may not have in the past.

[Bitten]

Good morning... forgive going off-topic

Still headed out in the morning to complete transaction. As it happens my architect is a couple of blocks away from dealership. Will be picking up finalized plans either before or after the trade.

My insurance will go up about $125/6 months going from III to V, same full coverage with predicted 8,000 annual mileage.

I will be leaving at about 6:30 am. Just call me and I will meet you!! Excited yet?

[slitherv10]

I have a collector car policy that has been in effect for over 13 years, well known and reputable. I had 250k worth of insurance on these 7 cars for 4300 a year.. I sold the most expensive cars in my collection to purchase the new Viper. So I actually reduced my total policy to 186k. I am getting the run around from my insurance company about how my garage is built, our location in regard to the coast, all sorts of stuff. I have to have special permission to get on the policy. We have never made a claim

My whole point is that Allstate has insured the new car for $2200 per year and our coverage offers to replace a totaled vehicle for the first three years. I was paying almost that much for a stated value policy for my 06 Viper.

So to all you New Gen V owners, shop around. I never thought Allstate would be cheaper and after the 3 years is up I can switchover to a stated value policy.

I hope this helps some of you. I got a quote today from Haggerty and the had some weird stuff going on there too. You have to have driving experience to own a Viper (never mind I had 2 gen 3s I tracked and have had numerous driving experiences including Viper Days). Because my husband drives a one ton dodge diesel and I drive a Rubicon we might not be experienced enough to drive a Viper.

I am insured with Haggerty as well and their policy of being licenced and experienced for a certain amount of years make sense. They don't want a 19 year old getting a classic car as their first car and insuring through them for 300 a year and or a muscle car with 500HP as their first car neither.

As far as you and your husband go, you should be qualified anyways under their policy and so your good to go.

The difference with classic car insurance companies and your run of the mill companies like Sate farm and allstate is that classic car insurance insures your car for its appraisal value and gives you the FULL appraised value if you get in an accident where as the state farms and allstates add in depreciation value during each year. You would have to appraise it constantly to keep up with the value of the car and not have it depreciate under those companies.

You shouldn't have a problem with Haggerty, they are a very good company if that route works for you. Putting your home and regular cars is a different story but with the low rates they offer for classic and specialty vehicles, you should still be paying less without the multi car and home added.

Do your math and you should be paying less even when all is separate. Usually.

[Bill Pemberton]

Slither,

I don't mean to be disrespectful, but the Insurance Industry has changed alot in the last 5 years, and it is advisable to check with your company as rules are different State to State, let alone
Country to Country ( USA to Canada ). Many companies offer appraised value and stated value contracts on exotics and classics with full coverage in the event of an accident. The advantage
can be additional discounts to many buyers , as they may also qualify for multi car, homeowner and other discounts. Bitten found this out and this was her heads up for folks to do a review,
since one may be able to get a strong contract within the company they are already with. The main thing, due to loss ratios, regional concerns, etc. some companies can be very competitive
in one area and not as much elsewhere. Just wanted to clarify this, because many major Insurance Companies saw the lost potential for business and this has opened up more avenues for those
of us with high profile, exotic and classic machines.

Respectfully Submitted,

Bill Pemberton

[MI Viper]

I looked at Grundy's and it's couple $100's more than what we are paying with Statefarm, (non-agreed value policy) and I think that's the way we will go...

[slitherv10]

Slither,

I don't mean to be disrespectful, but the Insurance Industry has changed alot in the last 5 years, and it is advisable to check with your company as rules are different State to State, let alone
Country to Country ( USA to Canada ). Many companies offer appraised value and stated value contracts on exotics and classics with full coverage in the event of an accident. The advantage
can be additional discounts to many buyers , as they may also qualify for multi car, homeowner and other discounts. Bitten found this out and this was her heads up for folks to do a review,
since one may be able to get a strong contract within the company they are already with. The main thing, due to loss ratios, regional concerns, etc. some companies can be very competitive
in one area and not as much elsewhere. Just wanted to clarify this, because many major Insurance Companies saw the lost potential for business and this has opened up more avenues for those
of us with high profile, exotic and classic machines.

Respectfully Submitted,

Bill Pemberton

No problem Bill, thanks for reply.

I have looked into insurance myself within the last year and looked around at State Farm and Allstate as well as most others, and found them , here in Canada anyways, to all work the same. Treating classics and specialty cars as they do daily drivers. Maybe they have changed in the last year, or maybe there is one orr two out there I did not contact that are going this new route your talking about. If you could let me know which ones you have encountered that are offering this new system, I would appreciate it as I would love to look into them.

[slitherv10]

I guess I am misunderstanding by what she is saying as "replacing a totaled vehicle". I've seen companies with that statement offer you a "similar" car which in the end is no where close to what you had in condition, mileage and or mods of your car. Its a take it or leave it clause. Or they pay you out on what it is worth at the time. Fine print is often overlooked. Insurance companies always look for ways out of a claim and have their contracts wording where it is all Greek to everyone.
not saying this is the case here but, Ive heard more horror stories when push came to shove. They roll out the red carpet and tell you what you want to hear and then "bang" things change when its redeem time.

[Bill Pemberton]

The problem is , in the United States, virtually every State has their own Insurance Commission, so laws and rules can be different just across a border. I have no idea about laws in Canada, nor
would I presume to know, as it is confusing enough down here. I am only suggesting, as Bitten did, that it may be beneficial to check. An example is I can acquire, in my State, a guaranteed
appraised value on my car and they will pay the agreed upon value upon loss - this is not with Grundy, Heacock, Barrett-Jackson, or Haggerty. I can't guess what might be the
situation around the US or in the Provinces, just a heads up for folks to check, as this is an area many major carriers now offer.

[Policy Limits]

Amica has always been fair & I'm a satisfied policy holder. I have no mileage restriction and no season restriction, 1/2 mill policy with 1k deductible for nine hundred bucks on my Gen V which includes full coverage annually.

1-800-24-AMICA

[Bitten]

I guess I am misunderstanding by what she is saying as "replacing a totaled vehicle". I've seen companies with that statement offer you a "similar" car which in the end is no where close to what you had in condition, mileage and or mods of your car. Its a take it or leave it clause. Or they pay you out on what it is worth at the time. Fine print is often overlooked. Insurance companies always look for ways out of a claim and have their contracts wording where it is all Greek to everyone.
not saying this is the case here but, Ive heard more horror stories when push came to shove. They roll out the red carpet and tell you what you want to hear and then "bang" things change when its redeem time.

With Allstate they have a policy that you are supposed to get a new car if your car is totaled in the first three years. We pay extra for that plan. I am friends with my agent and my husband was an auto adjuster with them for many years. I have had an accident in a Viper with Allstate previously with no problems.

Is what I was trying to do with this thread is to warn people buying this car to make sure you can get a policy that you want and are happy with the coverage and the rates. I was very surprised at the responses I am getting from the collector policies.

[Bitten]

Amica has always been fair & I'm a satisfied policy holder. I have no mileage restriction and no season restriction, 1/2 mill policy with 1k deductible for nine hundred bucks on my Gen V which includes full coverage annually.

1-800-24-AMICA

Are you near the coast? If so I may try them. Part of this change is the whole hurricane thing. I am sure the collector policies took a hit with New York and New Jersey.

[Policy Limits]

I'm on the east coast & have had this carrier for over a decade. An extra umbrella policy for an extra million in coverage only cost an extra couple of hundred bucks annually.

[Coloviper]

Have State Farm for all Vehicles (Daily and Collector) as well as bundled up with other things. Our Cayenne Turbos fall under the daily driver portion of State Farm and are still reasonable for full coverage at $70/mo. The Viper, Saleen, etc. fall under State Farm's Collector Car division and all policies are an agreed upon value based upon an appraiser base. In other words you pay for what you need. Saleen is $40/month, Viper is $60/mo, etc. Mileage under 7,500 per year, no restrictions for driving.

Tried to look at Grundy, Haggerty, etc, etc. for collector car and all came back ridiculous for costs, crazy T&Cs for driving restrictions and in the end left with impression they would waiver on actually paying out anything at any time.

Have had State Farm for over 18 years and had to use once on daily/collector type of vehicle. Zero hassle, and zero issues. As good as new.

Only other option which might help is to look into those Montana registration situations where they help you set up a company in Montana for peanuts and then register the cars through that company. Insurance may be through Montana companies at that point which would get away from coast and hurricane zone premiums. When was the last time someone asked you where the car lives, etc. when getting insurance. Just a thought to look into.

[Shooter]

I have used Leland-West since 09 and have never had a problem. They even insured the mods on my S/C 1st Edition when I had it. My ACR is insured at an agreed value of $100K and I have no mileage limit. I will have to look, but I think I'm at approx $1100 a year. Regular carriers scare me when it comes to the Viper. Perhaps that has changed as some have posted, but I'll stick to what works for me.

[Bitten]

American Collectors called me back this afternoon, after I told them to stuff it. They want a 5% deductible. We aren't sure at this point what we are gonna do. So the car is insured by them and Allstate for the weekend. I complained today to a supervisor and told them the agent said 24 hour approval. She went back and listened to the recorded call. I got a thousand apologies, but now conflicted are they going to honor the policy if something happens. 5k deductible, am I going to get a run around about paying up if something happens. They also only wanted to insure the car for what we paid, not the sticker price. I may stick with Allstate or call and get a quote with Amica , policy limits insurance.

If I had known I would have this much hassle over insurance would have done this before I bought the car.

Do your research before you buy. I never expected all of this run around.

Of course all of this is making me crazy, just like it would with any twitchy Viper owner. The what ifs will eat you up!

[Bitten]

Have State Farm for all Vehicles (Daily and Collector) as well as bundled up with other things. Our Cayenne Turbos fall under the daily driver portion of State Farm and are still reasonable for full coverage at $70/mo. The Viper, Saleen, etc. fall under State Farm's Collector Car division and all policies are an agreed upon value based upon an appraiser base. In other words you pay for what you need. Saleen is $40/month, Viper is $60/mo, etc. Mileage under 7,500 per year, no restrictions for driving.

Tried to look at Grundy, Haggerty, etc, etc. for collector car and all came back ridiculous for costs, crazy T&Cs for driving restrictions and in the end left with impression they would waiver on actually paying out anything at any time.

Have had State Farm for over 18 years and had to use once on daily/collector type of vehicle. Zero hassle, and zero issues. As good as new.

Only other option which might help is to look into those Montana registration situations where they help you set up a company in Montana for peanuts and then register the cars through that company. Insurance may be through Montana companies at that point which would get away from coast and hurricane zone premiums. When was the last time someone asked you where the car lives, etc. when getting insurance. Just a thought to look into.

My 2006 was hit hard in the rear and No problem when it was on Allstate. I have never had a claim in 12 years with American Collectors. No Montana for me, too much hassle. The Allstate prices aren't that bad. I have 250/500 plus a 1 mil umbrella.

[Brian E]

Bitten sorry to hear about your insurance woes. I know how excited you were to get your new Viper.
I had State Farm since I was 16 and a couple years ago switched to Erie insurance. They currently insure both the 2010 Coupe and 2014 TA. I setup the policy so I can drive anywhere up to 8500 miles a year. I have the same deductibles and coverages as my other auto's. The premium for a full year of coverage is only about $525 per car. I do carry an additional Umbrella/Liability policy that I am told helps lower the cost of thre premiums for the Vipers.
Anyone with a new or existing Viper may want to look check out Erie.

[Policy Limits]

Take it from me, it's much easier to grab "policy limits" from Amica than from Allstate

[ACR Steve]

Look for "Agreed Value" its the way to go with a Viper

[ViperGeorge]

My cars are registered in Montana but are garaged and insured in Colorado (garage location is what drives the premium not registration location). My 08 Viper Vert costs $339/six months, my 09 Viper ACR costs $367/six months, and my 14 Viper GTS (daily driver) costs $1,126/six months. All through Progressive. $1,000 deductable, $250K/$500K policy, includes glass and uninsured motorist..

[ACR Steve]

I hope you have an umbrella on top of those limits?